RE/MAX, Redfin Team Up in Referral Agreement
March 25, 2019
RE/MAX and Redfin recently announced a partnership to swap customer referrals between the two brokerages in the U.S. and Canada through the Redfin Partner Program.
In areas where Redfin does not have a major presence, the brokerage will refer customers to approved Partner Agents at other brokerages, including participating RE/MAX real estate agents. Redfin agents will receive a referral fee when the referred customer closes on a home purchase or sale.
Redfin.com does not currently promote any real estate agents in nearly 5,000 U.S. postal codes. RE/MAX agents will look to fill the void in those markets. Redfin also announced that, in Canada, it will also partner only with RE/MAX; the brokerage launched a Canadian real estate research site in February.
“By combining our expansive network of professional agents across the U.S. and Canada with Redfin’s massive online audience, consumers are connected with best-in-class agents, and our affiliates are given exclusive access to a rich source of referrals,” says Adam Contos, CEO of RE/MAX. “Everybody wins.”
RE/MAX agents have participated in the Redfin Partner Program since its launch in 2009. The latest announcement, however, marks a formal expansion of that arrangement.
Redfin surveys Partner Agent customers to make sure they were satisfied with the referral. Any partner agents who receive low marks are removed from the Redfin Partner Program.
The exclusivity agreement will last for two years. The companies will then reevaluate whether to extend their partnership after that time.
“Where both companies have agents, the current spirit of competition will continue, and the agreement does not prevent either brokerage from serving clients anywhere,” a statement on the program notes. “Where Redfin already works with Partner Agents from different brokerages, those Partner Agents can continue to participate in the Redfin Partner Program. Agents from different brokerages can continue to apply to become Redfin Partner Agents in areas not covered by the exclusivity agreement.”
“RE/MAX and Redfin Announce Exclusive Referral Relationship in U.S. and Canada,” RE/MAX and Redfin (March 18, 2019)
Updated: June 14, 2019